Post
Topic
Board Economics
Re: Importance of budgeting
by
Cookdata
on 30/07/2025, 19:33:51 UTC
I think this is what separates successful people from those living in poverty. I'm not belittling the poor. However, those who don't understand the value of money tend to only think of it as a means of exchange they use for shopping. The more money they earn, the more they spend. This is different from people with good financial management. They view money as a seed that, if planted properly, will yield returns. Such people tend to limit their spending and allocate their money to investment instruments or businesses. I have a friend who could be described as very stingy and lives a very simple life. He doesn't like fancy restaurants or branded goods. However, he owns many assets in stocks, crypto, and gold. Interestingly, when I asked him why he lives so simply, he said he initially wanted to live a luxurious life, but found that frugality is much more comfortable and enjoyable, and he doesn't want to change his habits.

There is a difference between successful people and by that I think you mean wealthy people, the middle peaole and poor people. Successful people are not close to poor people and they are not even bound by what you are saying. Been born in the right side of history gives you a edge, this is what man poor people don't have. If you are born in a poor family, the chance of you getting out of there is very slim and if you are not having a formal education may make it worse.

It's people that are in between middle class and wealthy people you should be comparing. Someone that has basic things and leave a comfortable life can take risk to becomes a wealthy person if they have the right plan and has a successful plan, a poor man don't have any money to invest in Crypto or Bitcoin but a middle class person can make that sacrifice with the little they have to buy the things you say and becomes a successful person, a poor person that barely feed don't have resources to buy the things you said.